We all know that cryptocurrency has gained immense popularity all across the world. Millions of people are joining the digital crypto currency revolution at high speed. For investing in cryptocurrency, you need a platform or an exchange, from where all transactions take place. Wazirx is one of the most trusted crypto exchange in India for dealing with Bitcoin and other crypto coins.You just have to create an account in the platform and understand the terms and conditions. Lets see how to deposit INR in Wazirx?
For beginning transactions (buying and selling of cryptocurrency), you have to deposit some amount in your Wazirx account. In India, you will deposit the money in INR in your Wazirx account. In this article, we will discuss in detail as how to deposit INR in Wazirx.
It is possible to deposit INR in your Wazirx account through 4 means, namely -NEFT or RTGS, IMPS and UPI.
Instant INR deposit with UPI
You can add INR to your Wazirx account with UPI. This deposit can be done from all platforms – from your desktop, iOS as well as Android OS based device. You have to follow the following steps for all the platforms:
- In the top bar, click on ‘Funds’.
- Click on the ‘Deposit’ button under ‘Indian Rupee’.
- Select the option Instant deposit with UPI.
- You have to link the UPI ID from which funds will be deposited. You have to ensure that the name in the UPI Banking system and Wazirx account name should be same for successful verification.
- After the completion of verification, you can enter the amount that you want to deposit and proceed.
- Finally check the UPI app for completing the transaction. The deposit will be done almost instantly.
Instant deposit NEFT/IMPS/RTGS (Temporarily Paused)
You can make instant INR deposit via NEFT/IMPS/RTGS, though the service is temporarily paused. The deposit can be done via all platforms – desktop, Android and iOS. You can follow the following steps for the process:
- In the top bar, click on ‘Funds’.
- Click on the ‘Deposit’ button under ‘Indian Rupee’.
- Your bank account has to be linked and for that you have to enter your ‘Bank Details’ from which the funds will be transferred. You must ensure that the name in the bank details should match the name in the Wazirx account.
- Click on the Instant Deposit NEFT/IMPS/RTGS.
- Now you can see the Wazirx bank details. Now you can transfer funds via NEFT/IMPS/RTGS to the provided account details.
- Once the transfer is successful, the deposit will be credited instantly into the Wazirx account.
What is the time span for the deposit to be reflected in Wazirx?
NEFT/IMPS/RTGS – Currently, it takes about 7 banking days for the NEFT/IMPS/RTGS deposits to reflect. Many of the deposits take place in a much shorter time, even in an hour. If your deposit is not reflected within 72 hours, get in touch with the support team.
UPI deposits – If the UPI status is successful, the amount will be credited in the account within just a couple of hours. However, in some cases it has been seen that it has taken almost 7 days for the amount to credit due to some glitches in the banking process.
Is there any limitation for minimum/maximum deposit?
Yes, the minimum amount that you have to deposit is INR 100. There is no maximum limit for deposit.
Is it possible to deposit money to my Wazirx account from someone else’s bank account?
No, this is not possible. You have to deposit money from the bank account or UPI Id, which is linked to the Wazirx account. The name in the bank account/UPI Id should be the same as that in Wazirx account.
Is there a deposit fee?
Yes. So that instant deposits are facilitated, there are different payment creditors for quick credits. For different methods, deposit fees vary from one another. You can see that on the INR deposit page. This fee is inclusive of all taxes.
